Sparta, NJ—A new consumer study involving US photo merchandise buyers found that product quality is nearly as important as price when choosing a vendor. The study was conducted by Rise Above Research.
“In a market that’s often driven by price and promotion, it’s very interesting to see that product quality is nearly as important to consumers as price,” said David Haueter, director and founder at Rise Above Research.
“Photo merchandise vendors must keep that in mind if they want to retain customers and not sacrifice quality just to sell more products in the short term at a lower price,” he added.
US Photo Merchandise Buyers Study
When study respondents were asked about the most important considerations when choosing which company to buy from, “product quality” ranked second at 62%. Moreover, it was just behind “price” at 63%. Product quality was also the leading consideration among 25-to-34-year-olds in the study, who are the most active buyers.
According to Rise Above Research, these finding show that buyers are not simply looking for the lowest price. Instead, product quality is also an important factor.
Top Five Most Important Considerations When Choosing a Company to Buy Photo Merchandise From
In addition, the study found that most of the respondents who bought photo products in the last year plan to buy the same products again in the next year. For example, 44% of photo book buyers said they plan to “definitely” buy photo books again in the next year. Moreover, 22% said they will “probably” buy again. Only 6% of photo book buyers said they don’t plan to buy again.
The study also revealed that challenges with inflation and the economy had an impact on photo merchandise buying with a significant percentage of consumers over the last year. Furthermore, most of them expect the changes that occurred in buying habits in 2022 to continue into 2023.
The 2022 US Photo Merchandise Study provides the results of an extensive online survey of American consumers. It focuses on buying habits as well as behaviors for key product areas. They comprise photo cards, photo books, photo calendars, photo wall/tabletop décor as well as drinkware.
What’s more, respondents provided detailed information on what they bought and how much they spent. They also answered deeper questions of why they purchased the products they did. And what their future intentions are.
The impact of inflation and the economy on purchase habits was covered. Further, non-buyers were also asked about why they haven’t bought and future purchase intentions.